SBA Communications (NASDAQ:SBAC) Given New $255.00 Price Target at Barclays

SBA Communications (NASDAQ:SBAC) had its price objective reduced by research analysts at Barclays from $260.00 to $255.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 29.96% from the stock’s previous close.

SBAC has been the topic of several other reports. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Buy” and an average price target of $268.00.

SBA Communications Stock Up 0.6 %

Shares of SBA Communications stock traded up $1.16 on Wednesday, hitting $196.22. 740,500 shares of the company traded hands, compared to its average volume of 1,000,182. The company has a 50-day moving average price of $212.54 and a 200 day moving average price of $222.69. SBA Communications has a 12-month low of $185.23 and a 12-month high of $266.77. The company has a market cap of $21.21 billion, a PE ratio of 42.75, a PEG ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same quarter in the prior year, the firm earned $3.11 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that SBA Communications will post 12.6 EPS for the current year.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SBAC. Carolinas Wealth Consulting LLC raised its position in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in SBA Communications in the fourth quarter worth about $31,000. Emerald Advisers LLC acquired a new position in SBA Communications in the third quarter worth about $31,000. Ancora Advisors LLC raised its position in SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after purchasing an additional 62 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in SBA Communications during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.